Star looking to withdraw stake from the NBA team
Jay Z looks to be getting ready to sell his share of the Nets in order to pursue his current direction of becoming a basketball player agent, with the rap star and entrepreneur seeking to exert a greater influence on the game through his Roc Nation Sports representation business.
According to Yahoo, the sale of his stake in the Nets is necessary for Hova, with the move paving way for him to receive his National Basketball Players Association certification as an agent. It’s NBA rules that no one individual affiliated with a player representation company can have an ownership stake with an NBA team. Jay Z has put a lot into the Nets over the past few years and it’s thought that the split between the two sides will be amicable; for the star the focus is on June, which is when agents will next be able to compete for players. However, there is no time limit on the process apparently, with both Nets and Jay Z keen to wind up their relationship in a way that is respectful to the team.
In fact those who should be really worried will be other agents, mindful of Jay Z’s status and culture profile. With that sort of weight behind him he’s a real threat to his competition – not least because he’s shown how adept he is at making money in ventures away from his ‘day job’ of rapping, which’ll inspire ballers to think they’ll be working with a man who knows his onions.
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